UAE exits OPEC: Day 60 of the Middle East crisis

The United Arab Emirates will formally withdraw from OPEC and OPEC+ membership this week. The decision was announced on the 60th day of armed conflict in the Middle East.

The UAE's withdrawal from the oil cartel is significant in the context of escalating geopolitical tensions and shifting economic strategies across the region. The country has decided to operate independently from OPEC+'s production restrictions and pricing policies.

Abu Dhabi has recently taken a series of steps aimed at reshaping regional balances. This exit is seen as a signal of a broader shift in players on the global oil market. The withdrawal process is expected to be completed by the end of this week.